Pallas Capital Advisors LLC Makes New $493,000 Investment in Fluor Corporation $FLR

Pallas Capital Advisors LLC purchased a new stake in Fluor Corporation (NYSE:FLR) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,406 shares of the construction company’s stock, valued at approximately $493,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Starboard Value LP bought a new position in Fluor during the 4th quarter worth about $205,732,000. AQR Capital Management LLC lifted its holdings in shares of Fluor by 163.1% in the fourth quarter. AQR Capital Management LLC now owns 5,167,676 shares of the construction company’s stock valued at $204,795,000 after purchasing an additional 3,203,712 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fluor by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,515,657 shares of the construction company’s stock worth $178,962,000 after buying an additional 377,985 shares during the period. Rubric Capital Management LP grew its holdings in shares of Fluor by 12.5% during the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the construction company’s stock worth $189,315,000 after buying an additional 500,000 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Fluor by 0.6% during the fourth quarter. Morgan Stanley now owns 3,405,733 shares of the construction company’s stock worth $134,969,000 after buying an additional 20,210 shares in the last quarter. 88.07% of the stock is owned by institutional investors.

Fluor Trading Up 1.1%

Fluor stock opened at $54.03 on Thursday. The stock has a 50-day simple moving average of $51.46 and a 200 day simple moving average of $48.95. The stock has a market capitalization of $7.23 billion, a P/E ratio of -4.40, a PEG ratio of 1.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.80. Fluor Corporation has a 52 week low of $39.33 and a 52 week high of $57.93.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 7th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.21. Fluor had a positive return on equity of 8.82% and a negative net margin of 12.85%.The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts expect that Fluor Corporation will post 2.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on FLR. Weiss Ratings restated a “hold (c)” rating on shares of Fluor in a research note on Friday, August 7th. Robert W. Baird boosted their price objective on shares of Fluor from $49.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Barclays increased their target price on shares of Fluor from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Citigroup lifted their price target on shares of Fluor from $56.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Zacks Research raised shares of Fluor from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Fluor currently has an average rating of “Moderate Buy” and a consensus price target of $63.33.

Insider Transactions at Fluor

In other Fluor news, insider Pierre Edward Bechelany sold 5,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $55.24, for a total transaction of $276,200.00. Following the completion of the sale, the insider owned 36,064 shares of the company’s stock, valued at $1,992,175.36. This trade represents a 12.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.70% of the stock is owned by corporate insiders.

Fluor Profile

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that provides integrated solutions across the energy, chemicals, mining, clean energy, infrastructure and government services markets. The company’s core offerings include engineering, procurement, fabrication, construction, maintenance and project management services, with capabilities spanning feasibility studies, detailed design and turnkey delivery. Fluor’s diversified portfolio encompasses conventional oil and gas facilities, liquefied natural gas (LNG) plants, petrochemical facilities, power generation projects, transportation infrastructure and federal government programs.

Founded in 1912 by John Simon Fluor as the Fluor Construction Company in Pomona, California, the firm has grown into an industry leader headquartered in Irving, Texas.